Produced by: Prashun Talukdar
Benchmark indices on Wednesday pause their six-day upward move, dragged by media, IT and energy stocks. The 30-share BSE Sensex slumped 434 points or 0.59% to close at 72,623 and the broader NSE Nifty index moved 142 points or 0.64% down to close at 22,055. During intraday trade, Nifty50 touched its fresh record high of 22,249.40. India VIX, fear index, fell 0.90% to end at 15.93-level.
For February 22 (Thursday), analysts from a few domestic brokerages have assigned 'Buy' calls on Nestle, GSPL and Gujarat Gas. Check stock price targets, analysis, investment rationale and other crucial details about these technical bets.
LTP: Rs 2,539.20 | SL: Rs 2,470 An analyst from LKP Securities has given a 'Buy' call on Nestle India shares with target prices of Rs 2,680-2,750. The multibagger scrip has risen 35.97% in the past one year. "The stock has established a consolidation base. It presents an opportune moment to initiate a position, targeting gains in the range of Rs 2,680-2,750, with a stop loss set at Rs 2,470," said Rupak De, Senior Technical Analyst at LKP Sec.
LTP: Rs 375.05 | SL: Rs 358 The LKP analyst has also selected Gujarat State Petronet Ltd (GSPL) shares in its stock recommendations. The brokerage has given a 'Buy' call on the counter with target prices of Rs 388-396 per share. The multibagger scrip has gained 40.49% in a year. "The stock is exhibiting a strong uptrend pattern. Consider initiating positions between Rs 368-372 with a stop loss at Rs 358, targeting gains of Rs 388-396," De stated.
LTP: Rs 568 | SL: Rs 550 A market expert from Prabhudas Lilladher (PL) has suggested a 'Buy' call for Gujarat Gas Ltd shares with a target price of Rs 590. The scrip has moved 12.99% higher in the past one year. "The stock has taken support near Rs 512. It has currently indicated a buy signal with much upside potential visible from current levels. We suggest to buy the stock for an initial upside target of Rs 590, keeping a stop loss of Rs 550," said Shiju Koothupalakkal, Technical Research Analyst at PL.
"For Nifty, immediate support is positioned at 22,000. A decisive drop below this level could lead the index towards 21,700. On the upside, resistance is identified at 22,160," said Rupak De from LKP Securities.
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